Why Banks Flag Your $10K+ Deposits (And What Actually Happens)

Planning to drop $10K+ into your checking account? Here’s what you need to know:

The Law: Banks must file Currency Transaction Reports (CTR) for any cash deposit over $10,000 to FinCEN (Financial Crimes Enforcement Network). It’s standard anti-money laundering procedure — not a red flag if your money is legit.

The Trap — Structuring: Don’t try to dodge the rule by making multiple $8K deposits. That’s called “structuring” and it’s illegal. Banks will catch it and file a Suspicious Activity Report (SAR) instead, which triggers investigations.

What Happens Next: You might need to prove where the money came from (invoices, receipts, bank statements). The bank can also put a 2-7 day hold on checks to verify authenticity.

Other Gotchas:

• Some bank accounts have maximum deposit limits — check first
• Fees may apply to large deposits
• Make sure your bank is FDIC-insured (protects up to $250K)
• Watch for deposit scams (fake checks asking for refunds)

For Businesses: Form 8300 must be filed with the IRS within 15 days of receiving $10K+ cash.

Bottom line: Keep it legit, keep receipts, and ask your bank about limits before depositing.